- Approximately 70 new townhomes proposed for 63,050 square feet development site on Oak Street and 37th Avenue in Shaughnessy
- Over the past 20 years, Grosvenor and Citimark have developed more than 500 homes together in Greater Vancouver
- Designed by acclaimed firm Formwerks Architectural with interior design by award-winning Canadian design studio Ste. Marie Studio
VANCOUVER, BC (DECEMBER 21, 2021) – Grosvenor and Citimark announce the purchase of an assembly of eight lots located on Oak Street and 37th Avenue with plans to design and build approximately 70 new townhomes on the site. As part of the City of Vancouver’s Phase 3 Cambie Corridor Plan, Grosvenor and Citimark will create new forms of housing near transit, amenities, employment spaces, and services.
The site is located directly across the street from VanDusen Botanical Garden and Oak Meadows Park and is close to some of Vancouver’s most sought after elementary and secondary schools. Located just a few blocks from the geographic centre of the City of Vancouver, the property is also ideally situated close to Oakridge Centre, Queen Elizabeth Park and the Canada Line Station providing access to Downtown Vancouver within 10 minutes. The site is one of the few remaining sites on Oak Street planned for townhome development.
“We have been developing in the Lower Mainland for almost 70 years, and this is our first townhome development in Vancouver.” says Marc Josephson, Grosvenor Americas’ Senior Vice President, Development. “Shaughnessy is one of the most sought-after neighbourhoods in Vancouver. We’re excited to bring 70 new townhomes to this part of the city where this housing for families is in high demand and short supply.”
Over the past 20 years, Grosvenor and Citimark have developed more than 500 homes together in Greater Vancouver. This project marks Grosvenor and Citimark’s fifth development together. Notable projects include 15West in North Vancouver, and the recently completed Metrotown high-rise, Polaris.
“Citimark is excited to be working together again with the high calibre team at Grosvenor to bring our newest family-oriented townhome development to the Shaughnessy neighborhood,” says Citimark President Nelson Chan. “We look forward to our continued partnership to create a positive influence in the communities we build in.”
Grosvenor and Citimark also announce two internationally acclaimed consultants on the project: Formwerks Architectural and interior design firm, Ste. Marie Studio. The vision for the project is to be visually distinctive and contemporary while keeping with the Shaughnessy neighbourhood character, with an emphasis on timeless material selection and well-considered details.
This new community will follow in the footsteps of recent award-winning Grosvenor developments such as Grosvenor Ambleside in West Vancouver and The Pacific in Vancouver as well as Citimark’s sizeable family-oriented developments, Belle Isle and Ebb & Flow townhomes in North Vancouver.
For more information please contact:
Michelle Lan
D: (604) 788-8579
michelle@resonanceco.com
Jordan Prior
Vice President, Project Marketing
Grosvenor Americas
+16046403504
jordan.prior@grosvenor.com
About Grosvenor Americas
Grosvenor Americas has been an active developer and investor in several high-quality cities across the U.S. and Canada for 69 years. Our strategy is to invest in vibrant urban areas where our activities can make a positive contribution to neighborhoods and communities, which we deliver through our Living Cities approach. Since 2004, we have helped supply 12,300 quality homes and have transacted $4.6bn in investment property in the high-growth markets where we operate.
As one of the first North American signatories to the World Green Building Council’s Net Zero Carbon Buildings Commitment, our business is guided by ESG principles and underpinned by a promise to achieve net zero operations by 2030.
We are active in the high-growth transit-oriented and/or amenity-rich neighborhoods of Seattle, Vancouver, the San Francisco Bay Area and Washington, D.C. Our Development Program focuses on residential mixed-use projects; most developments in our CAD $3.8bn pipeline will deliver to LEED Gold standards. We also add value to residential, commercial and retail assets, actively managing a portfolio of 59 stable properties in our Investment Program. Additionally, we run a Structured Development Finance business that provides funds to leading residential developers who provide much-needed housing.
As of December 31, 2020, Grosvenor Americas had assets under management of CAD $4.6bn.
We are part of Grosvenor Group, one of the world's largest privately-owned international property companies and active in Britain & Ireland, Europe, Asia Pacific and North America. With $15.2bn of assets under management and a track record of 344 years, Grosvenor develops, manages and invests with a purpose of improving property and places to deliver lasting commercial and social benefit.
To read more about Living Cities please click here
Follow us on:
Instagram: grosvenor.americas
Twitter: GrosvenorAmer
LinkedIn: Grosvenor Group
About Citimark
With decades of experience, the Citimark team delivers thoughtful, community-driven developments throughout Metro Vancouver and beyond. Citimark is committed to the creation of highly livable and functional homes designed to meet the needs of families now and in the future. A wealth of knowledge and expertise goes into every project, with each home built with the same care and attention as if it were their own.
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Instagram: citimark.homes
